OREA is on the job all year long. We represent the interests of retired teachers at the legislature, the governor's office, retirement and health insurance boards, state pension commission, and more. OREA listens to you and gives voice to your needs and concerns. Opportunities for active involvement are afforded to members eager to participate in OREA's advocacy programs.
If you haven’t had an opportunity to call your representatives and senators at the Oklahoma Legislature, this would be a great time to call about our Cost of Living Adjustment (COLA) bill, House Bill 2985, authored by Representative Avery Frix.
Last week’s update included information about House Bill 1340, legislation that would create a one-time stipend—2% of the annual benefit of the recipient. This bill included caps on the amount depending on the funded ratio of the state’s various pension systems. The average stipend for Oklahoma teachers would be about $340.
The bill was heard in the Banking and Business Committee on Tuesday, and the author, Rep. McDaniel, presented a committee substitute for the bill. This bill raised the maximum stipend amount in the original bill from $750 to $1000 for teachers and firefighters. The caps were also raised for OPERS, OLERS, Police, and Judges and Justices. The benefit